SuperPachttp://www.businessinsider.com/category/superpac
en-usFri, 18 Aug 2017 02:04:01 -0400Fri, 18 Aug 2017 02:04:01 -0400The latest news on SuperPac from Business Insiderhttp://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.pngBusiness Insiderhttp://www.businessinsider.com
http://www.businessinsider.com/r-bush-super-pac-meets-target-of-100-million-in-donations-sources-2015-7Jeb Bush's super PAC just raised a whopping amount of cashhttp://www.businessinsider.com/r-bush-super-pac-meets-target-of-100-million-in-donations-sources-2015-7
Thu, 09 Jul 2015 13:33:00 -0400Steve Holland and Michelle Conlin
<p><img style="float:right;" src="http://static2.businessinsider.com/image/557f39c1ecad043c7da257cd-600-/ap730917246001-3.jpg" border="0" alt="AP730917246001" width="600"></p><p>A super PAC backing Republican presidential candidate Jeb Bush has met its fundraising goal of raking in at least $100 million by the end of June, two sources familiar with the matter said on Thursday.</p>
<p>One Bush donor told Reuters it was his understanding the Right to Rise super PAC had met its target. A second contributor said Right to Rise had raised more than $100 million and that the PAC would make an announcement soon.</p>
<p>The super PAC has been waiting for Bush's presidential campaign to announce its fundraising numbers from the first two weeks after he formally entered the race on June 15.</p>
<p>Bush's campaign has not said when it will announce its two-week total but it is expected soon. Bush, a former Florida governor and brother of former President George W. Bush, planned to meet some of his best donors on Thursday and Friday in Kennebunkport, Maine, the seaside town where his family has a compound.</p>
<p>Bush spent months raising money for his super PAC before formally entering the race.</p>
<p>The $100 million tally would dwarf any amount raised by his rivals.</p>
<p>(Reporting By Steve Holland and Michelle Conlin; Editing by Bernard Orr and Andrea Ricci)</p><p><a href="http://www.businessinsider.com/r-bush-super-pac-meets-target-of-100-million-in-donations-sources-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/new-air-force-one-tour-boeing-private-jet-2015-5">Take a tour of the $367 million jet that will soon be called Air Force One</a></p> http://www.businessinsider.com/what-marc-benioff-wants-from-politicians-2014-9Tech Billionaire Marc Benioff Donates Generously To Politicians And This Is What He Wants In Return (CRM)http://www.businessinsider.com/what-marc-benioff-wants-from-politicians-2014-9
Sun, 21 Sep 2014 10:23:00 -0400Julie Bort
<p><img style="float:right;" src="http://static4.businessinsider.com/image/54187dee6bb3f7ab64f059ec-790-592/marc-benioff-talking-1.png" border="0" alt="Marc Benioff talking"></p><p>Although Salesforce.com CEO Marc Benioff has been a big, visible supporter of President Obama and Nancy Pelosi, he says he's not a Democrat.</p>
<p>"I'm not a Democrat and I'm not a Republican. I'm an American," he<a href="http://techcrunch.com/video/the-things-marc-benioff-really-cares-about/518408100/"> told TechCrunch's Mike Arrington. during the Disrupt conference in San Francisco earlier this month.</a> "If I like someone I'll give them money, but I'm not particularly close to anyone."</p>
<p>Records kept by political donation watchdog site <a href="https://www.opensecrets.org/usearch/?q=Marc+Benioff">OpenSecrets.org</a>&nbsp;more or less support that. Although Democrats do seem to grab more funds from him, he has donated to the National Republican Congressional Committee and various specific Republicans.</p>
<p>He says whenever he meets with the politicians that he has backed, there are four things he asks of them:</p>
<p><strong>1. Benioff wants the government to give more H1-B visas to the tech industry so that bright kids who study and graduate from US universities can stay and get jobs here.</strong> The visa should "stapled to them" when they graduate, he jested on stage.</p>
<p>H1-B visas let US companies bring in employees from overseas for jobs that require special skills. The US allows about 85,000 of these visas per year, <a href="http://www.uscis.gov/working-united-states/temporary-workers/h-1b-specialty-occupations-and-fashion-models/h-1b-fiscal-year-fy-2015-cap-season">it says, </a> and&nbsp;<a href="http://online.wsj.com/news/articles/SB10001424127887324883604578396680112980530?mod=rss_economy&amp;mg=reno64-wsj">they tend to run out of&nbsp; them within days of making them available every year.</a></p>
<p><strong>2. He wants patent reform.</strong> "Patent trolls have become a huge problem in the industry. We had something phenomenal which was a&nbsp;bipartisan effort led by Eric Cantor, also supported by Nancy Pelosi, called the Innovation Act." It passed the House and went to the Senate where "Harry Reid killed it. ... Everybody supported it. The President supported it and the Senate killed it. It would have created patent reform in our industry," he says.</p>
<p>The House version of the bill is H.R. 3309. It was sent to the Senate in December 2013, and has been languishing in committee every since, <a href="https://beta.congress.gov/bill/113th-congress/house-bill/3309">according to Congress.gov.</a></p>
<p><strong>3. He wants companies to be allowed to bring back their stockpiles of overseas cash at a reasonable tax rate.</strong> "We need repatriation. Big companies, not Salesforce, have a lot of overseas because they have tried to avoid paying taxes. But that's not the point. For them to grow, to buy companies, make change, they need the money domestically. There needs to be some clear, easy-to-understand repatriation rate, say 15-20%," he says.</p>
<p>Currently the tax rate is 35% to bring overseas cash back, the full-corporate rate. Fortune 500 corporations have stashed nearly $2 trillion in offshore accounts, says think tank Citizens for Tax Justice. And tech companies <a href="http://www.businessinsider.com/microsofts-offshore-cash-2014-8">have some of the biggest tax hoards.</a></p>
<p><strong>5. He wants common sense fiscal reforms, such as those from the 2010&nbsp;bipartisan committee known as<a href="http://www.fiscalcommission.gov/"> Simpson Bowles</a>.</strong> "We need a greater financial security for our country. We need a balanced budget, things like&nbsp;Simpson Bowles need to pass so we can have confidence that entitlements are going forward."</p>
<p>So far, his requests has fallen on deaf ears, as none of these things seem likely to happen anytime soon.</p>
<p>But Benioff is nothing if not persistent. In January of this year, he was among a handful of billionaires that donated $25,000 to a SuperPAC for Hillary Clinton, <a href="http://www.bloomberg.com/news/2014-02-01/walton-benioff-join-billionaires-backing-clinton-in-2016.html">Bloomberg reported at the time.</a></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/top-paying-tech-jobs-ranked-2014-9" >Here's What You Can Earn At The 20 Top Tech Companies</a></strong></p>
<p><a href="http://www.businessinsider.com/what-marc-benioff-wants-from-politicians-2014-9#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/r-tech-moguls-raise-cash-to-fight-washingtons-big-money-problem-2014-23Several Internet Pioneers Are Forming A SuperPAC To End Big Money's Role In Politicshttp://www.businessinsider.com/r-tech-moguls-raise-cash-to-fight-washingtons-big-money-problem-2014-23
Tue, 24 Jun 2014 08:16:00 -0400
<p><img src="http://static1.businessinsider.com/image/52264398eab8ea4f2fac0c40-1200-858/ap510628399032.jpg" border="0" alt="Steve wozniak talking in a microphone" /></p><p>SAN FRANCISCO (Reuters) - A group of influential Internet moguls aim to fix what they refer to as the "big money problem" in Washington politics by, well, raising cash.</p>
<p>Forming a Super Political Action Committee (PAC) called Mayday, the executives hope to raise $12 million by the midterm elections in November in hopes of supporting candidates who are committed to changing how elections are financed.</p>
<p>Apple cofounder Steve Wozniak joined the campaign late last week, alongside Union Square Ventures' Fred Wilson; Paypal cofounder and libertarian activist Peter Thiel; and LinkedIn cofounder Reid Hoffmann.</p>
<p>Their approach - using big money to fight big money - may seem odd, but the organizers note on the campaign website that they "embrace the irony."</p>
<p>"You have to work with the system you've got," said Harvard law professor Lawrence Lessig, who along with Republican strategist Mark McKinnon came up with the idea to form a Super PAC. "I don't think it makes sense to back out to play the game."</p>
<p>The organizers plan to use the funds to support five political candidates who will push for campaign finance reform. Lessig said he is considering both Democrats and Republicans to ensure the effort crosses party lines.</p>
<p>As a Super PAC, Mayday can raise unlimited amounts of money to bankroll political campaigns or causes so long as it operates independently of the candidates they support.</p>
<p>The organizers have called Mayday "the Super PAC to end all Super PACs"</p>
<p>Lessig, a founding board member of Creative Commons and former board member of the Electronic Frontier Foundation, told Reuters the objective is to find a way to change the way that elections are funded. In its first two weeks, the imitative garnered $1 million from grassroots donations.</p>
<p>In addition, Thiel and Hoffmann, venture capitalists Brad Burnham and Fred and Joanne Wilson, and Chris Anderson, organizer of the TED conference, agreed to donate $1 million apiece. Lessig hopes to raise an additional $5 million by July 4.</p>
<p>If successful, Mayday will launch a much larger campaign in 2016 to reverse laws that have granted undue political influence to corporations.</p>
<p>According to Lessig, the goals for the campaign are "narrow." Mayday is not a veiled effort to advance the tech agenda, he repeatedly stressed.</p>
<p>"If we're successful, some of our donors will have less influence than they do now, personally and through their corporations," he added. "They are spending money to reduce their political influence."</p>
<p>This wouldn't be the first attempt to curb the explosion of outside spending. A similar effort, dubbed Soros&rsquo; Friends of Democracy, is being run by Jonathan Soros, son of billionaire financier George Soros.</p>
<p>&ldquo;Until we fix the root problem &ndash; the big money problem &ndash; we&rsquo;re going to keep dealing with attack after attack on a free, open and innovative Internet," Wozniak said in a video to promote the Mayday campaign.</p>
<p>(Reporting By Christina Farr; Editing by Ken Wills)</p><p><a href="http://www.businessinsider.com/r-tech-moguls-raise-cash-to-fight-washingtons-big-money-problem-2014-23#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/clinton-already-has-massive-support-2016-2013-4Three Years Out, Hillary Clinton Already Has Massive Support For A 2016 Presidential Runhttp://www.businessinsider.com/clinton-already-has-massive-support-2016-2013-4
Wed, 03 Apr 2013 11:37:40 -0400Charles Babington
<p><span style="color: #222222; font-size: 15px; line-height: 1.5em;"><img style="float:right;" src="http://static3.businessinsider.com/image/515c4aa2eab8ea3f6c00000a-400-/screen%20shot%202013-04-03%20at%2011.27.52%20am.png" border="0" alt="Hillary Clinton" width="400" />WASHINGTON (AP) &mdash; Hillary Rodham Clinton stayed on safe political ground Tuesday, advocating women's rights globally in a 12-minute speech, but that was enough to excite fans imploring the former first lady, senator and secretary of state to run again for president three years from now.</span></p>
<p>Clinton, perhaps as popular as ever in her 22 years in national politics, said she has "unwavering faith in the untapped potential of women and girls." She spoke at the Vital Voices Global Leadership Awards, at Washington's Kennedy Center. The event, highlighting efforts such as expanding education for girls and fighting domestic violence worldwide, marked her first public speech since ending her much-praised stint as secretary of state.</p>
<p>As members of the group Ready for Hillary cheered outside, the 2016 political buzz was inevitable. Vice President <a class="hidden_link" href="http://www.businessinsider.com/blackboard/joseph-biden">Joe Biden</a> &mdash; another potential Democratic candidate &mdash; spoke later at the same event.</p>
<p>If Clinton has any jealousy, she didn't show it. She praised Biden effusively, especially for his role in Congress' recent renewal of the Violence Against Women Act.</p>
<p>Biden returned the compliment a half-hour later, after Clinton had left the stage, telling the mostly female audience of more than 2,000 that "there's no woman like <a class="hidden_link" href="http://www.businessinsider.com/blackboard/hillary-r-clinton">Hillary Clinton</a>."</p>
<p>Biden said Clinton's declaration in China nearly two decades ago &mdash; "Women's rights are human rights," she said at the time &mdash; "still echoes forcefully around the world." Women everywhere, he said, "are entitled to every single opportunity that any man is."</p>
<p>Clinton, 65, has said she has no plans for a second presidential bid, but she hasn't ruled it out. Democrats argue among themselves whether she has the desire and energy to go through the grueling campaign process she knows so well. But many see her as a prohibitive favorite whose head start would be so big that other potential candidates might starve for funds and attention.</p>
<p>A Washington Post-ABC News poll in January found that 67 percent of Americans held a favorable view of Clinton. That's her highest rating since the poll began measuring her popularity in the 1990s. It spans her eight years in the Senate.</p>
<p>"It's hard to overstate the breadth and depth of enthusiasm for a Hillary run," said Doug Hattaway, a former Clinton campaign aide and now a Washington-based consultant. She built a national base of supporters in 2008, when she lost a hard-fought nomination fight to Barack Obama, and she's widely respected after her turn heading the State Department, Hattaway said.</p>
<p>"A lot of donors, volunteers and potential campaign workers will wait to hear what she decides before committing to other candidates," he said, although "anyone with their eye on 2016 is already working on it."</p>
<p>Mo Elleithee, a top spokesman for Clinton's 2008 campaign, said it's much too early to press her for an answer.</p>
<p>"My advice to everyone is to chill out," Elleithee said. "There's no need for all this breathless anticipation at this point," he said, and political activists should focus on next year's mid-term elections.</p>
<p>Noting that Clinton said she has no intention of running, he said, "I think that's where her head is." But he said he shares "the enthusiasm" for a Clinton candidacy.</p>
<p>There may be no one in America with a clearer view of what it takes to run for president.</p>
<p>Clinton was a highly visible adviser and defender of her husband, Bill, then the Arkansas governor, when he was elected president in 1992, and re-elected in 1996. Her eight years as first lady included the excruciating Monica Lewinsky scandal and her husband's impeachment.</p>
<p>On the same day her husband's successor was elected, Clinton handily won a Senate seat from New York. She breezed to re-election in 2006 and was the early favorite for the 2008 presidential nomination.</p>
<p>But Obama used his early opposition to the Iraq war, plus a keen understanding of how to win small states' delegates, to outmaneuver the Clinton team. Obama promptly tapped his former rival to be secretary of state, assuring Clinton another prime post at the center of national policy and politics.</p>
<p>Some Democrats want the party to look to younger candidates, noting that Clinton will turn 69 shortly before Election Day 2016, and Biden will turn 74 soon after. Those drawing notice include New York Gov. <a class="hidden_link" href="http://www.businessinsider.com/blackboard/andrew-cuomo">Andrew Cuomo</a>, 55, and Maryland Gov. <a class="hidden_link" href="http://www.businessinsider.com/blackboard/martin-omalley">Martin O'Malley</a>, 50.</p>
<p>As runner-up in the 2008 Democratic primary, Clinton arguably is the party's heir apparent. Republicans, not Democrats, typically nominate the next-in-line contender.</p>
<p>With the early GOP presidential picture wildly scrambled, it's possible that Republicans will tap a newer, younger nominee while Democrats consider one of the nation's best-known figures, and certainly the most high-profile female politician.</p>
<p>Clinton is scheduled to speak Friday at the Women in the World Summit in New York.</p>
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<p><img class="nc_pixel" src="http://pixel.newscred.com/px.gif?key=YXJ0aWNsZT0wM2RjZjQwMDA2MjI0NDEyYmYyZTIzMTY1NDI0ZDcyZSZvd25lcj1lOTllZDJiYjAxYjQzNmJkZWEyOWQ2NjAyYTg2NTY4NSZub25jZT03ZTA1YzIwYy02YzE2LTQyZTctYTQ1NC1hM2QwYTkwNzcwOTgmcHVibGlzaGVyPThjMDBmYmVlNjFkNWJjZjBjNjA5MmQ4YjkyZWJiY2Ex" border="0" alt="" width="1" height="1" /></p><p><a href="http://www.businessinsider.com/clinton-already-has-massive-support-2016-2013-4#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/ron-paul-rand-peter-thiel-liberty-tampa-facebook-billionaire-gop-2012-8Rand Paul Is Hanging Out With Facebook Billionaire Peter Thiel At The GOP Conventionhttp://www.businessinsider.com/ron-paul-rand-peter-thiel-liberty-tampa-facebook-billionaire-gop-2012-8
Wed, 29 Aug 2012 19:24:19 -0400Grace Wyler
<p class="p1"><strong><img style="float:right;" src="http://static5.businessinsider.com/image/4fe375c1ecad044a4c000000/peter-thiel.jpg" border="0" alt="Peter Thiel" />TAMPA, FLA. &mdash;</strong> Just one day after <strong><a class="hidden_link" href="http://www.businessinsider.com/blackboard/ron-paul">Ron Paul</a></strong> officially exited the Republican presidential race, <a class="hidden_link" href="http://www.businessinsider.com/blackboard/paypal">PayPal</a> co-founder and libertarian bankroller <strong>Peter Thiel</strong> made a quiet trip to Tampa to meet with <strong>Kentucky Senator <a class="hidden_link" href="http://www.businessinsider.com/blackboard/rand-paul">Rand Paul</a></strong> and several Paul-friendly delegates, sources close to the Paul camp told <a class="hidden_link" href="http://www.businessinsider.com/blackboard/business-insider">Business Insider</a> Wednesday.&nbsp;</p>
<p class="p1">According to those sources, Thiel had a private meeting with the younger Paul Wednesday morning, and later met with some of Paul's delegates at a private home in Tampa's Stoney Point neighborhood.&nbsp;</p>
<p class="p1">The meetings were not related to fundraising, one source told Business Insider, but rather to discuss "the future of the Liberty Movement," the preferred name of the conservative libertarian movement inspired in part by Ron Paul. Theil, who recently cashed out on his <a class="hidden_link" href="http://www.businessinsider.com/blackboard/facebook">Facebook</a> investment, has donated millions to so-called Liberty candidates this election cycle, including more than $2.5 million to a SuperPAC supporting Congressman Paul's third White House bid.&nbsp;</p>
<p class="p1">Theil's appearance at the site of the Republican National Convention comes at a watershed moment for the Liberty Movement. Ron Paul exited the race Tuesday amid a contentious battle between his supporters and the party establishment, leaving his son to mend those bridges and convince supporters &mdash; and donors &mdash; that he can lead the movement going forward.&nbsp;</p><p><a href="http://www.businessinsider.com/ron-paul-rand-peter-thiel-liberty-tampa-facebook-billionaire-gop-2012-8#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/superpac-app-identifies-who-paid-for-political-adsand-how-much-they-spent-2012-8This New Super PAC App Identifies Who Paid For Political Ads ... And How Much They Spenthttp://www.businessinsider.com/superpac-app-identifies-who-paid-for-political-adsand-how-much-they-spent-2012-8
Wed, 22 Aug 2012 13:25:52 -0400Laura Stampler
<p><img style="float:right;" src="http://static6.businessinsider.com/image/503512e7ecad045b39000000/super-pac-app.jpg" border="0" alt="super pac app" /></p><p>As political ads clog the airwaves, many of which are <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=4&amp;ved=0CEUQFjAD&amp;url=http%3A%2F%2Fwww.cbsnews.com%2F8301-33683_162-57489407%2Fsuper-pac-pres-says-their-money-dwarfed-by-labor-dollars%2F&amp;ei=VxQ1UNcbqsXqAfrPAQ&amp;usg=AFQjCNGTWJ34v9oWPrjGMBvCQQY3y7bXyQ">paid for by Super PACs' hundreds of millions of dollars</a>, it can be difficult to tell where certain commercials come from.</p>
<p><a href="http://www.superpacapp.org/">Enter SuperPAC App,</a> the <a class="hidden_link" href="http://www.businessinsider.com/blackboard/shazam">Shazam</a> of the political arena.</p>
<p>With the click of a button, <a href="http://itunes.apple.com/us/app/super-pac-app/id552140731?ls=1&amp;mt=8">the free app listens to the ad users are watching</a> on television (it doesn't work for radio) and compares the political ad with a database, powered by the <a href="http://www.tunesat.com/">audio fingerprinting company TuneSat.</a></p>
<p>The database then reveals <a href="http://mashable.com/2012/08/22/superpac-app/">which campaign/organization paid for the spot</a>, how much they spent on it, and allows users to <a href="http://www.theverge.com/2012/8/22/3260200/super-pac-app-ios-filters-noise-political-ads">check on the veracity of the ad's claims with nonpartisan PolitiFact or FactCheck.org.</a> To stay interactive, the app then lets users rate the ad as love, fair, fishy, or fail.</p>
<p>SuperPAC App was created by Dan Siegel and Jenn Hollett, former MIT Media Lab students.</p>
<p>"Because of the <em>Citizens United</em> decision, that Supreme Court decision, super PACs can exist," <a href="http://edition.cnn.com/2012/08/22/tech/mobile/super-pac-app-campaign/">Siegel told CNN</a>, explaining why they created the app. "And what it means is that anyone who's willing and able to write a check can have a voice in this election. And by anyone, that is a union, that is an individual, that is a company. And they can do so to an unlimited degree."</p>
<p>Although SuperPAC App is all about ads, it is ad-free and was funded by a Knights Foundation grant.</p><p><a href="http://www.businessinsider.com/superpac-app-identifies-who-paid-for-political-adsand-how-much-they-spent-2012-8#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/romney-attacks-obama-you-didnt-build-it-here-republicans-2012-7Republicans Are Hammering Obama With Attack Ads, And It's Only Going To Get Worsehttp://www.businessinsider.com/romney-attacks-obama-you-didnt-build-it-here-republicans-2012-7
Wed, 25 Jul 2012 12:25:24 -0400Brett LoGiurato and Grace Wyler
<p><strong><a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a></strong>'s presidential campaign and its allies are taking their 'You didn't build it here' attacks against wide today, with a pair of new ads and two dozen swing state campaign rallies that will slam <strong>President Barack Obama</strong> for his recent comment about&nbsp;small business and government a central theme of the campaign.&nbsp;</p>
<p>The Romney announced this morning that it will host 24 "We Did Build This" campaign events in <a href="http://www.businessinsider.com/five-key-swing-states-obama-romney-presidential-election-2012-6">12 crucial battleground states</a> this week, featuring small business owners who will slam the President over a&nbsp;<a href="http://www.businessinsider.com/obama-small-business-government-infrastructure-taxes-romney-2012-7" target="_blank">July 13 speech,</a>&nbsp;which included the line&nbsp;"If you've got a business, you didn't build that. Somebody else made that happen."</p>
<p>The <a href="http://www.businessinsider.com/obama-romney-you-didnt-build-that-campaign-ads-video-2012-7">Obama campaign pushed back hard against the Republican criticisms</a> over the remark yesterday, with a new ad featuring the President addressing voters directly to explain how his remarks were taken out of context.&nbsp;</p>
<p>But Republicans were ready with a counterattack this morning, releasing a new web video that contains a&nbsp;<a href="http://www.youtube.com/watch?v=rwWW2DQS_DU&amp;feature=youtu.be&amp;utm_medium=email&amp;utm_source=et&amp;utm_content=http%3a%2f%2fwww.youtube.com%2fwatch%3fv%3drwWW2DQS_DU%26feature%3dyoutu.be&amp;utm_campaign=1490907_209343_RNC%20Communications" target="_blank">full minute of Obama's July 13 speech,</a>&nbsp;arguing&nbsp;that the context is actually <em>worse&nbsp;</em>than the "You didn't build that" line by itself.</p>
<p><span>"With more&nbsp;</span><span class="il">context</span><span>, it is obvious President Obama doesn't understand that businesses succeed because of the hard work and sacrifice of the American people, not the growth and intrusiveness of government,"</span>&nbsp;Republican National Committee Chairman <a class="hidden_link" href="http://www.businessinsider.com/blackboard/reince-priebus">Reince Priebus</a> said in an accompanying statement.</p>
<p>Watch the <a href="http://www.youtube.com/watch?v=rwWW2DQS_DU&amp;feature=youtu.be">RNC video</a> below:&nbsp;</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/rwWW2DQS_DU"></iframe></p>
<p><span></span>Meanwhile, the Karl Rove-backed SuperPAC American Crossroads is out with a <a href="http://www.youtube.com/watch?v=bWsnzZMIXGU">new sports-themed web hit</a> that slams Obama's latest ad as the "fumble of the week."</p>
<p>Watch that video below:</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/bWsnzZMIXGU"></iframe></p>
<h3><a href="http://www.businessinsider.com/obama-campaign-ad-choice-video-2012-7" target="_blank"><strong>Now check out the Obama ad that everyone is saying is his best ever &gt;</strong></a></h3><p><a href="http://www.businessinsider.com/romney-attacks-obama-you-didnt-build-it-here-republicans-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/a-quick-rundown-of-how-much-some-of-wall-streets-most-famous-billionaires-have-given-to-super-pacs-this-year-2012-7A Quick Rundown Of How Much Some Of Wall Street's Most Famous Billionaires Have Given To Super PACs This Yearhttp://www.businessinsider.com/a-quick-rundown-of-how-much-some-of-wall-streets-most-famous-billionaires-have-given-to-super-pacs-this-year-2012-7
Tue, 24 Jul 2012 16:15:27 -0400Linette Lopez
<p><img style="float:right;" src="http://static2.businessinsider.com/image/4ba903de7f8b9af54f9c0c00/louis-bacon-moore.jpg" border="0" alt="louis bacon moore" /></p><p>Senator Bernie Sanders (I-VT) has released a report on how much the country's billionaires have given to Super PACs iin 2012. Unsurprisingly, there are a bunch of Wall Streeters on his list.</p>
<p>According to the report, 26 billionaires (with a combined net worth of $195 billion) have given over $61 million to Super PACs this year.</p>
<p>You can get a pdf of the report <a href="http://www.sanders.senate.gov/imo/media/doc/072412Billionaires11.pdf">here</a>, but if you don't want to read all of it, we've got the Wall Streeters listed for you below.</p>
<p>From the report:</p>
<ul>
<li>Kenneth Griffin is worth $3 billion and he has given $2.08 million to super PACs in 2012.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/louis-bacon">Louis Bacon</a> is worth $1.4 billion and he has given $500,000 to super PACs this year.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/david-tepper">David Tepper</a> is worth $5.1 billion and he has given $375,000 to super PACs this year.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/bruce-kovner">Bruce Kovner</a> is worth $4.5 billion and he has given $500,000 to super PACs this year.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/john-paulson">John Paulson</a>, the hedge fund manager who made his fortune betting that the sub-prime <br />mortgage market would collapse, is worth $12.5 billion. He has donated $1 million to <br />super PACs.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/peter-thiel">Peter Thiel</a> is worth $1.5 billion. He has donated $6.7 million to Super PACs this year.</li>
<li><a class="hidden_link" href="http://www.businessinsider.com/blackboard/julian-robertson">Julian Robertson</a> is worth $2.5 billion and he has given $1.25 million to super PACs this <br />year.</li>
</ul>
<p>Consider yourself informed.</p><p><a href="http://www.businessinsider.com/a-quick-rundown-of-how-much-some-of-wall-streets-most-famous-billionaires-have-given-to-super-pacs-this-year-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/karl-rove-romney-obama-tax-return-attacks-american-crossroads-2012-7KARL ROVE TO ROMNEY: Stop Whining About Obama's Attackshttp://www.businessinsider.com/karl-rove-romney-obama-tax-return-attacks-american-crossroads-2012-7
Thu, 19 Jul 2012 12:28:37 -0400Grace Wyler
<p><img style="float:right;" src="http://static5.businessinsider.com/image/4d54b87b4bd7c869331b0000/karl-rove.png" border="0" alt="Karl Rove" /></p><p>Republican strategist <strong>Karl Rove</strong> thinks <strong><a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a></strong> needs to toughen up and start fighting back against the <strong>President Barack Obama</strong>'s "stream of smears" against the Republican candidate's personal wealth and business record.&nbsp;</p>
<p>In a <em><a class="hidden_link" href="http://www.businessinsider.com/blackboard/wall-street-journal">Wall Street Journal</a></em> editorial today, <a href="http://rove.com/articles/399">Rove beseeches the Romney campaign to go on offense</a> with an effective message that reminds voters that the Democrats' negative campaign strategy merely aims to distract voters from the Obama administration's dismal economic record.</p>
<p>While the Obama campaign's attacks have not moved the national polls, Rove writes, Romney's weak and seemingly unprepared response has discouraged conservative activists, raising concerns that the former Massachusetts governor doesn't have the backbone to go up against the Obama machine.</p>
<p>Here's the relevant excerpt (emphasis mine):</p>
<p style="padding-left: 30px;"><em>Still, they have had an effect.<strong> The Romney campaign's response&mdash;which included whiny demands that the president apologize for his attacks&mdash;has unsettled GOP activists, causing them to wonder how prepared Mr. Romney and his team are for the mudfest they've entered.</strong> <strong>The attacks have drawn attention to the Obama campaign's demands that Mr. Romney release more years of tax returns. And they've allowed Mr. Obama to avoid talking about the continually bad economic news</strong>&mdash;the lousy June jobs numbers, last Friday's drop in consumer confidence, Tuesday's drop in retail sales and more.</em></p>
<p style="padding-left: 30px;"><em>The danger for Mr. Romney is that if these charges go unrefuted, they could discourage swing voters from going for him this fall when they decide whom to support. Therefore, <strong>Mr. Romney should challenge Mr. Obama directly&mdash;as he did effectively on Tuesday and Wednesday&mdash;but in a way that makes the Republican bigger and more presidential than the incumbent.</strong></em></p>
<p style="padding-left: 30px;"><em>This is his opportunity to remind voters&mdash;in a tone of disappointment and regret, not anger and malice&mdash;that Mr. Obama's negative attacks will not put anyone back to work, reduce our growing national debt, or get America moving in the right direction. The attacks are more than just "misleading, unfair and untrue." They are proof Mr. Obama isn't up to the job and no longer worthy of the nation's confidence.</em></p>
<p>But Rove isn't waiting for Romney to act &mdash; his<strong> American Crossroads SuperPAC </strong>announced today that it is launching a<a href="http://www.youtube.com/watch?v=s_AHL5K1XeA"> new ad that "defends Romney and hits Obama's failed record."</a></p>
<p>The SuperPAC has purchased $9.3 million in airtime to run the ad in nine key swing states, according to a press release.</p>
<p>Watch the ad below:&nbsp;</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/s_AHL5K1XeA"></iframe></p><p><a href="http://www.businessinsider.com/karl-rove-romney-obama-tax-return-attacks-american-crossroads-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/sarah-silverman-scissor-sheldon-adelson-republican-superpac-video-2012-7Sarah Silverman Says She'll 'Scissor' Sheldon Adelson If He Donates To Obama (NSFW)http://www.businessinsider.com/sarah-silverman-scissor-sheldon-adelson-republican-superpac-video-2012-7
Mon, 16 Jul 2012 12:51:00 -0400Grace Wyler
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/2B5o6-qNk6Q"></iframe>&nbsp;</p>
<p>Comedian <strong>Sarah Silverman</strong> has an "indecent proposal" for 78-year-old casino magnate <strong>Sheldon Adelson</strong> &mdash; she says she'll <span>"scissor" Adelson while wearing a bikini if he gives Obama the $100 million he has pledged to Republican SuperPACS to Obama instead.&nbsp;</span></p>
<p><strong>"Do you know how many Republican billionaires are giving to Romney? All of them," </strong>Silverman says, addressing Adelson in a <a href="http://www.youtube.com/watch?v=2B5o6-qNk6Q">new web video</a><strong>. "How many of them are getting scissored by a bikini-bottomed Jewess with big naturals? How many Sheldon?"</strong></p>
<p>"You'll be the only elderly billionaire on the block to have traditional lesbian sex through to climax with a girl who had her own show on <a class="hidden_link" href="http://www.businessinsider.com/blackboard/comedy-central">Comedy Central</a>."</p>
<p>The video invites viewers to visit <a href="http://scissorsheldon.com/">ScissorSheldon.com</a> and sign a petition to "help cut <a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a> free from his sugar daddy." The site includes a list of Adelson's political objectives and links to articles about Adelson's donations to conservative groups.&nbsp;</p>
<p>A disclosure at the end of the video says the ad was paid for by the <a href="http://www.jcer.info/">Jewish Council for Education and Research</a>, a left-leaning political action committee.</p><p><a href="http://www.businessinsider.com/sarah-silverman-scissor-sheldon-adelson-republican-superpac-video-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/romney-bain-money-democrats-attacks-2012-7Why Attacking Mitt Romney's Money Is So Important to Obama's Strategyhttp://www.businessinsider.com/romney-bain-money-democrats-attacks-2012-7
Wed, 11 Jul 2012 16:04:00 -0400Grace Wyler
<p><strong><img style="float:right;" src="http://static3.businessinsider.com/image/4e987db8ecad04e507000001/mitt-romney-bain-capital.jpg" border="0" alt="mitt romney bain capital" /><a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a></strong>'s business experience has come under increased scrutiny over the past month of the presidential race, as <strong>President Barack Obama</strong>'s re-election campaign and its SuperPAC allies work furiously to <a href="http://www.businessinsider.com/romney-offshore-money-obama-campaign-video-2012-7">turn the Republican candidate's record at Bain Capital &mdash; and the fortune he made there &mdash; into a political liability.&nbsp;</a></p>
<p>Republicans have dismissed the Bain attacks as a distraction aimed at diverting attention from the President's economic record. In a statement to <a class="hidden_link" href="http://www.businessinsider.com/blackboard/business-insider">Business Insider</a> earlier this week, <a href="http://www.businessinsider.com/romney-offshore-money-obama-campaign-video-2012-7">Romney campaign spokesperson Andrea Saul dubbed the attacks an "unfounded character assault," calling them "unseemly and "disgusting."</a></p>
<p>On the surface, that defense makes sense. <strong>But</strong> <strong>the strategy behind the attacks is actually a lot more complicated.</strong></p>
<p>In conversations with Business Insider, Democratic strategists explained that while the attacks are aimed at making Romney look like an out-of-touch rich guy, <strong>they also serve a broader goal of providing a vehicle to talk about the real theme of the Obama campaign: <span style="color: #ff0000;">Class.</span>&nbsp;</strong></p>
<p><strong>Ads highlighting <a href="http://www.businessinsider.com/barack-obama-mitt-romney-bain-capital-private-equity-outsourcing-offshoring-2012-6">Romney's role at Bain Capital</a> and his <a href="http://www.businessinsider.com/where-is-mitt-romney-secretly-hiding-his-money-2012-7">opaque personal fortune</a> provide a lens that frames the Republican candidate's policies for voters, including his plans to cut taxes for the wealthy and cut entitlement spending,&nbsp;</strong>Rodell Mollineau, president of the pro-Obama SuperPAC American Bridge, explained.&nbsp;</p>
<p><span><strong>"As the American people begin to really understand his political and business history, it becomes easier for Americans to see what it is that he is going to do," Mollineau said.</strong> "Most Americans would never think about having a Swiss bank account, and then you layer on that some of the gaffes he's made like the $10,000 bet and 'corporations are people.' <strong>He's presenting to voters that he doesn't really get it."</strong></span></p>
<p><span></span><strong>"It sets up a very good argument for how he would handle economic policies as president."&nbsp;</strong></p>
<p>Bill Burton, chief strategist for the pro-Obama SuperPAC Priorities USA Action, laid out the argument in an email to Business Insider:&nbsp;</p>
<p style="padding-left: 30px;"><em>&ldquo;Mitt Romney has made his experience in business his primary qualification to be President . He has promised to apply the same approach to the Presidency as he did as a corporate buyout specialist by pursuing policies that cut promised Medicare benefits and slash educational and job opportunities for the middle class, while&nbsp;<span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span>protecting the safety net for the wealthiest Americans like himself."</em></p>
<p><strong>New polling evidence suggests that Burton's argument &mdash; and the <a href="http://www.businessinsider.com/the-pro-obama-super-pac-hits-mitt-romney-with-a-vicious-ad-that-keeps-the-focus-on-bain-capital-2012-6">damning Bain attack ads his group has been running in key swing states</a> &mdash; are actually resonating with voters.&nbsp;</strong></p>
<p>A <a href="http://www.prioritiesusaaction.org/blog/2012-07-mitt-romneys-central-qualification-becomes-a-signifi">polling analysis</a> released today by Priorities USA Action shows that <strong>Obama leads Romney by 8 points (49% to 41%)&nbsp;in markets where Priorities ran ads attacking Romney's record at <a class="hidden_link" href="http://www.businessinsider.com/blackboard/bain-capital">Bain Capital</a>, compared to a 3-point lead in markets that did not see the Bain ads.&nbsp;</strong></p>
<p><span>The polling, which was conducted in the battleground states of Ohio, Florida, Virginia, Colorado, and Pennsylvania, also shows that&nbsp;</span><strong>Romney has a 9-point negative favorability rating </strong><span><strong>in markets that ran the ads and a full 40% of voters in those markets said that Romney's role as CEO of Bain Capital makes them less likely to vote for him.</strong> By comparison, Romney has a 5-point negative favorability rating in markets that didn't see the ads, and 34% of voters in those markets said his record at Bain made them less likely to vote for him.&nbsp;</span></p>
<p><span>Overall, Obama leads Romney by an average of 48% to 42% in the five states.&nbsp;</span>Romney's average favorability rating across the five states is 36%, while 43% of voters say they view him unfavorably.&nbsp;</p>
<p>Here's the breakdown:&nbsp;</p>
<p><img src="http://static2.businessinsider.com/image/4ffdd89469bedd7804000002/romney-favorability.jpg" border="0" alt="romney favorability" /></p>
<p>According to Mollineau, the attacks on Romney's business record are working in part because voters still know very little about Romney, apart from the fact that he is a rich, successful businessman. This absence of details about the candidate and about his policy plans have made it easier for Democrats to define their opponent, Mollineau said.</p>
<p><strong>"When all you have in this vacuum is the past, and the past is not always flattering, than that is what you are giving voters," he said. "Mitt Romney isn't going out of his way to explain what his policies would be, so he's leaving voters with the worst possible ideas."&nbsp;</strong></p>
<h3><strong>DON'T MISS: <a href="http://www.businessinsider.com/mitt-romneys-experian-investor-2012-5">How Mitt Romney Made Once Made A 289% On A Company He Owned For Seven Weeks</a></strong></h3><p><a href="http://www.businessinsider.com/romney-bain-money-democrats-attacks-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/obama-fundraising-campaign-donations-democrats-2012-7Democrats Are Getting Nervous About Obama's Money Problemshttp://www.businessinsider.com/obama-fundraising-campaign-donations-democrats-2012-7
Wed, 04 Jul 2012 10:00:57 -0400Grace Wyler
<p><img style="float:right;" src="http://static2.businessinsider.com/image/4f8b709469bedd3369000035/barack-obama.png" border="0" alt="Barack Obama" /></p><p>As second quarter fundraising reports start to trickle in, the Obama campaign is already warning that it may have lost its edge in the campaign money wars.</p>
<p>Publicly, the campaign has tried to turn its fundraising disadvantage into a political opportunity, raising the reliable specters of Karl Rove and the Koch brothers to scare liberal donors into forking over more cash. On Friday, the President, basking in the glow of his Obamacare win, called some of his top 2008 donors from Air Force One to beg for more money.&nbsp;</p>
<p>"I&rsquo;m asking you to meet or exceed what you did in 2008,&rdquo; Obama said, <a href="http://www.thedailybeast.com/articles/2012/06/30/exclusive-president-obama-asks-campaign-donors-to-send-him-more-money.html?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=cheatsheet_morning&amp;cid=newsletter%3Bemail%3Bcheatsheet_morning&amp;utm_term=Cheat%20Sheet">according to the <em>Daily Beast</em></a>. &ldquo;Because we&rsquo;re going to have to deal with these super PACs in a serious way. And if we don&rsquo;t, frankly I think the political [scene] is going to be changed permanently. Because the special interests that are financing my opponent&rsquo;s campaign are just going to consolidate themselves. They&rsquo;re gonna run Congress&nbsp;<em>and</em>&nbsp;the White House.&rdquo;</p>
<p><span>But even beyond the scare tactics, Democratic strategists and money men privately told <a class="hidden_link" href="http://www.businessinsider.com/blackboard/business-insider">Business Insider</a> that <strong>they are increasingly concerned about whether their candidate can compete with outside conservative groups, who are expected to raise a combined $1 billion in their push to take back the White House.</strong></span></p>
<p>In interviews with Business Insider, several Democratic fundraisers outlined several obstacles hampering the Obama's money-making efforts.</p>
<p>First, Democrats have had difficulty reigniting 2008 enthusiasm among many supporters, forcing the campaign's finance team to spend resources finding and cultivating untapped donors.&nbsp;</p>
<p>More problematically, <strong>Democrats have struggled to convince donors that <a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a> is a real threat, especially after this year's Republican primary circus</strong>. According to one Obama fundraiser,<strong> this problem has been compounded by the campaign's initial chest-thumping over its grassroots fundraising machine, which lulled big-money donors into a state of complacency that has been hard to shake.&nbsp;</strong></p>
<p>Still, doomsday warnings about Obama's money problems are probably exaggerated. Democratic insiders concede that the fundraising race remains tight, and will likely stay that way through the general election. But without a liberal Sheldon Adelson to turn to, the Obama campaign can ill afford to fall behind.&nbsp;</p><p><a href="http://www.businessinsider.com/obama-fundraising-campaign-donations-democrats-2012-7#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/the-supreme-court-rejected-montanas-limits-on-corporations-political-spending-2012-6The Supreme Court Just Struck Down State Limits On Corporate Campaign Donationshttp://www.businessinsider.com/the-supreme-court-rejected-montanas-limits-on-corporations-political-spending-2012-6
Mon, 25 Jun 2012 11:08:00 -0400Erin Fuchs
<p><img style="float:right;" src="http://static5.businessinsider.com/image/4f69fe45ecad04746500001e/citizens-united-money-politics.jpg" border="0" alt="citizens united money politics" /></p><p>The Supreme Court on Monday struck down Montana's limits for corporations' spending on political campaigns.</p>
<p>In a 5-4 decision on Monday, the court's conservative justices ruled that the <a href="http://www.washingtonpost.com/politics/supreme-court-strikes-down-montana-limits-on-corporate-campaign-spending/2012/06/25/gJQApu6i1V_story.html">Supreme Court's controversial 2010 decision in Citizens United</a> applied to state campaign finance laws, the Associated Press reports.</p>
<p>Liberal justices had asked the court to reconsider its previous decision on corporate finance limits because of out-of-control corporate spending on campaigns since the 2010 ruling, the AP reported.</p><p><a href="http://www.businessinsider.com/the-supreme-court-rejected-montanas-limits-on-corporations-political-spending-2012-6#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/mother-jones-game-of-thones-political-attack-ads-2012-6WATCH: Mother Jones' Ridiculous 'Game of Thrones' Political Attack Adshttp://www.businessinsider.com/mother-jones-game-of-thones-political-attack-ads-2012-6
Wed, 20 Jun 2012 17:10:00 -0400Kirsten Acuna
<p class="p1">From a <a href="http://www.youtube.com/watch?v=QKgNA3gQKKw" target="_blank">kitten theme song</a> to a <a href="http://www.huffingtonpost.com/2012/03/05/the-simpsons-game-of-thrones_n_1321443.html" target="_blank">Simpsons' couch gag</a>, there are plenty of parodies of "Game of Thrones," the hit HBO series that follows the lords and ladies of the Seven Kingdoms.&nbsp;</p>
<p class="p2">Today, <a href="http://www.motherjones.com/politics/2012/06/game-of-thrones-attack-ads" target="_blank"><em>Mother Jones</em></a> released three super-PAC political ads for main characters <strong>Daenerys Targaryen</strong>, <strong>Joffrey Baratheon</strong> and <strong>Robb Stark</strong>.&nbsp;</p>
<p class="p2">We laughed ... but only because they're so outrageous. However, we must admit, the narrator's voice is pretty awesome.&nbsp;</p>
<p class="p1">Watch the ads below:&nbsp;</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube-nocookie.com/embed/Ao4HVlV7wZU"></iframe></p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube-nocookie.com/embed/Yzw2ZiMt3y4"></iframe></p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube-nocookie.com/embed/a6r9CdNenuk"></iframe></p>
<h2>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/regis-philbin-reunites-with-kathie-lee-on-today-show-2012-6">Regis Philbin's hilarious reunion with Kathie Lee 'Today' &gt;</a></h2><p><a href="http://www.businessinsider.com/mother-jones-game-of-thones-political-attack-ads-2012-6#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/american-crossroads-karl-rove-obama-charlie-brown-attack-ad-2012-6Karl Rove's SuperPAC Is Using Charlie Brown To Mock Obama's Economy Speechhttp://www.businessinsider.com/american-crossroads-karl-rove-obama-charlie-brown-attack-ad-2012-6
Fri, 15 Jun 2012 10:22:00 -0400Elena Schneider
<p><strong>American Crossroads</strong>, a SuperPAC founded by Bush strategist&nbsp;<strong>Karl Rove</strong>, released its own translation of President Barack Obama's big economy speech last night with a Charlie Brown-themed attack ad, arguing that Obama's only economic message was, "It's not my fault."&nbsp;&nbsp;</p>
<p><span>The short video splices together Obama's repeated references to the Bush years and corporations, followed by the PAC's interpretation of his words: "Blame everyone else."</span></p>
<p>The ad closes with:&nbsp;"After 4 years of the same excuses...Eventually they just sound like this:" and dubs Obama with the the "wah, wahhh" noises of Charlie Brown's teacher.</p>
<p>Watch the ad here:&nbsp;</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/6xsvXbfnwSg"></iframe></p><p><a href="http://www.businessinsider.com/american-crossroads-karl-rove-obama-charlie-brown-attack-ad-2012-6#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/john-sawyer-21-year-old-millionaire-ron-paul-super-pac-thomas-massie-kentucky-2012-5Meet The 21-Year-Old Millionaire Who's Bankrolling The New Ron Paul Revolutionhttp://www.businessinsider.com/john-sawyer-21-year-old-millionaire-ron-paul-super-pac-thomas-massie-kentucky-2012-5
Tue, 29 May 2012 22:13:14 -0400Grace Wyler
<p><img style="float:right;" src="http://static3.businessinsider.com/image/4fbfee41eab8eaec3c000003/preston-bates-john-ramsey-liberty-for-all.jpg" border="0" alt="preston bates john ramsey liberty for all" /></p><p>With <a href="http://www.businessinsider.com/why-ron-paul-is-done-with-the-republican-primary-2012-5">Ron Paul effectively out of the presidential race</a> &mdash; and nearing the end of his career in politics &mdash; his army of young acolytes are taking on the mantle of the Revolution, turning their attention to down-ballot races in a <a href="http://www.businessinsider.com/why-ron-paul-is-done-with-the-republican-primary-2012-5">quiet quest to take over the Republican party.</a></p>
<p>At the vanguard of this Revolution 2.0 is <strong>John Ramsey, a 21-year-old Texas millionaire who used $1.3 million of his inheritance to form a SuperPAC that backs so-called "Liberty candidates"</strong> who adhere to Paul's small government, free-market, anti-interventionist, and pro-civil liberty message.</p>
<p>A former <a class="hidden_link" href="http://www.businessinsider.com/blackboard/ron-paul">Ron Paul</a> campaign volunteer, Ramsey told <a class="hidden_link" href="http://www.businessinsider.com/blackboard/business-insider">Business Insider</a> that he was disillusioned by Paul's disappointing &mdash; and somewhat fishy &mdash; losses in this year's Iowa and Maine caucuses, and wanted to form a group that would go beyond grassroots organizing and actually win elections. He teamed up with fellow Paul volunteer <strong>Preston Bates</strong>, a 23-year-old former Democratic operative, and christened the new SuperPAC <a href="http://pacliberty.com/2012races/">Liberty For All</a>.</p>
<p><strong>&ldquo;We want to be the organization that wins elections &mdash; that makes a difference," Ramsey told BI. "It&rsquo;s one thing to get everyone inspired and rallied up, it&rsquo;s another thing to actually win and have a professional organization that can have a profound impact on elections at every level.&rdquo;</strong></p>
<p>The Super PAC scored its <a href="http://www.businessinsider.com/kentucky-rand-paul-thomas-massie-republican-primary-ron-paul-revolution-2012-5">first major victory in Kentucky's Republican primary</a> last week, with <a href="http://www.businessinsider.com/kentucky-rand-paul-thomas-massie-republican-primary-ron-paul-revolution-2012-5">Thomas Massie's landslide win</a> in the state's Fourth Congressional District. Liberty For All/Ramsey threw down nearly $900,000 to back Massie in the race, flooding the state media markets and mailboxes with attacks against his opponent.</p>
<p>But Ramsey and Bates aren't resting on their laurels. Liberty For All announced Monday that it will <a href="http://pacliberty.com/2012races/">back 10 candidates in statewide races</a> this year, and is soliciting input on who should make up the slate.</p>
<p><strong>&ldquo;The grassroots nature of the organization is such that it&rsquo;s impossible for us to wheel-and-deal and be Boss Tweeds,&rdquo; </strong>said Bates, the executive director of Liberty For All. &ldquo;We want people who are in the communities with these candidates to be like, &lsquo;Hey, this candidate is good on freedom, they&rsquo;re the real deal, they&rsquo;re not pandering, they&rsquo;re not a diet Freedom candidate.&rsquo;&rdquo;</p>
<p>It's a strange approach for a SuperPAC, which tend to be run by secretive donors who already know which candidates they like.</p>
<p>But Liberty For All is part of a <a href="http://www.businessinsider.com/meet-the-women-of-the-ron-paul-revolution-2012-5">political cottage industry of Paul-friendly think tanks, PACs, and consultancies</a> that occupy a parallel political universe alongside the Republican Establishment. These nextGen Ronulans are figuring out ways to harness the movement's grassroots enthusiasm and new media flexibility toward traditional campaigning.</p>
<p>"We plan to use all of the traditional tactics &ndash; TV, radio, direct mail," Bates said. "We can compete with them in new technology, but where we can't compete is with the buddy-buddy network."</p>
<p>(To be fair, Liberty For All hasn't completely lost touch with its roots &mdash; Bates said they plan to "annoy" rivals with drone parody blimps.)</p>
<p>So far, Liberty For All has been almost entirely self-funded by Ramsey, who inherited the money from his grandfather. But Bates said he is already ramping up hiring, and plans to have a fundraising team of between 5 and 10 people. The goal, he said, is to raise $10 million by the end of the summer.</p>
<p>"There are members of the community that have the ability to write large checks and we want to give them an organization that is well-organized and well-oiled &mdash; we think they are interested in investing in a freer country," Bates said. "&ldquo;We&rsquo;ve already created a niche for those investors who want to make freedom codified in the political system.&rdquo;</p>
<p>Ramsey, who is just a few credits shy of his bachelor's degree, won't say how much he is willing to put into his SuperPAC ("how much does freedom cost?") and adds that he sees his contribution as an "angel investment" in a "humanitarian effort."</p>
<p>These musings aside, Ramsey and Bates are not afraid to get their hands dirty if it means getting Liberty candidates into office.</p>
<p><strong>&ldquo;We plan to become like a freedom insurgency," Bates said. "We&rsquo;re going to use any and all available tactics and nothing is off the table.&rdquo;</strong></p>
<p><strong>"To be honest, we&rsquo;re a force to be reckoned with,&rdquo; Ramsey added. &ldquo;Any enemy of freedom, whether within the Republican Party or Democratic Party &mdash; they should be shaking in their boots at this point. No one is safe.&rdquo;</strong></p>
<h3><a href="http://www.businessinsider.com/ron-paul-became-a-revolution-2012-5">DON'T MISS: Here's How Ron Paul Became A Revolution&nbsp;</a></h3><p><a href="http://www.businessinsider.com/john-sawyer-21-year-old-millionaire-ron-paul-super-pac-thomas-massie-kentucky-2012-5#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/why-money-in-politics-is-a-bigger-problem-than-ever-before-2012-4Why Money In Politics Is A Bigger Problem Than Ever Beforehttp://www.businessinsider.com/why-money-in-politics-is-a-bigger-problem-than-ever-before-2012-4
Tue, 10 Apr 2012 07:50:00 -0400Ashvin Pandurangi
<p><img style="float:right;" src="http://static4.businessinsider.com/image/4f841e46ecad04f271000000/vagabonds-migrants.jpg" border="0" alt="vagabonds migrants" /></p><p>As the U.S. election season kicks into high gear, we are going to hear a lot of people talk about "money in politics". They are usually referring to the fact that corporations, industries and their professional lobbying hacks use campaign donations, expenditures and various other monetary tactics to influence the thinking, voting and decision-making of those who are running for or already in public office.</p>
<p>That's all a major part of the dysfunction (or non-function) of our "democratic" political system, and we will certainly see this mechanism in full force over the next 7 months.</p>
<p>Here's how the race for hundreds of millions in campaign fundraising has stacked up so far over the course of 2011 and early 2012, in the run-up to the Presidential election in November. Barack Obama is at about $160 million and <a class="hidden_link" href="http://www.businessinsider.com/blackboard/mitt-romney">Mitt Romney</a> sitting on less than half of that, at about $70 million, and <a class="hidden_link" href="http://www.businessinsider.com/blackboard/ron-paul">Ron Paul</a> working with <em>less than half of that</em>, at about $30 million. These are all obviously astronomical amounts of money in the eyes of the average American, let alone the average human being, and have only grown larger and larger over the last few decades of federal elections.</p>
<p><img src="http://static2.businessinsider.com/image/4f841d4969bedd4570000000/chart.jpg" border="0" alt="chart" width="619" height="405" /></p>
<p>In addition, all of these fundraising figures fail to capture the corporate expenditures on specific presidential candidates through the vehicle of Super Political Action Committees (Super PACs). This scourge of money flowing into elections has become exponentially worse in the wake of the Supreme Court's <em>Citizens United</em> decision of 2009, which essentially held that the First Amendment's "free speech" clause protects corporations' right to expend unlimited amounts of money on political campaigns. Total Super PAC spending has already amounted to almost $80 million, and we are just getting started (keep in the mind that only TWO of these candidates will actually run in the general election).</p>
<p><img src="http://static1.businessinsider.com/image/4f841d536bb3f7f53a000002/chart.jpg" border="0" alt="chart" width="618" height="427" /></p>
<p>However, there's another more fundamental aspect to "money in politics". Let's talk about the fact that many of our politicians, and especially those at the federal level, are literally indebted to and invested in private corporations. After all, these are merely people with assets, liabilities, portfolios and net worth just like anyone else. Regardless of how much they must spend to get into office and/or re-elected over multiple terms, there is no doubt that they will do anything in their power to make sure the value of their debt-laden assets does not collapse.</p>
<p>The Ethics in Government Act of 1978 required U.S. presidential candidates to file personal financial disclosure reports with the Federal Election Commission, and the latest data is for 2010. Open Secrets has helpfully compiled these reports on its <a href="http://www.opensecrets.org/"><strong>website</strong></a>. Let's take a look at a quick snapshot of the financial assets held by only one of the front-runners to become the President of the U.S. in January 2013 - Barack Obama - who has by far one of the shortest disclosure forms of them all.</p>
<p><img src="http://static2.businessinsider.com/image/4f841d6aeab8eaa80a000007/chart.jpg" border="0" alt="chart" /></p>
<p>The page excerpted above tells us that Obama has investments in equities that were valued anywhere from $250,000 to $550,00 at the end of 2010, and are most likely still within that range. According to the rest of the form, Obama has investments in U.S. Treasuries that were valued anywhere from $1 million to $5 million. Many people may argue that the Oath and associated responsibilities of the U.S. President will outweigh any concerns the man has for the value of his own personal investments, but I'd say those people are wrong. Think about all of his family and friends with similar investments, and the fact that he plans on funding his childrens' education with that [illusory] money.</p>
<p>Now think about the fact that the state of Obama's personal investments in the markets are NOTHING compared to that of <a href="http://pfds.opensecrets.org/N00000286_2010_pres.pdf"><strong>Mitt Romney</strong></a> (his disclosure was 28 pages long), while many candidates also owe interest payments on debt they have taken on. The point is that, while the level of assets, liabilities and net worth vary significantly between the various presidential and congressional candidates for office, most of them have very significant monetary stakes in the system. Simple logic tells us that none of them will be much different than the others when it comes to making the fundamental reforms to our debt-based economy that are so desperately needed. <a class="hidden_link" href="http://www.businessinsider.com/blackboard/indeed">Indeed</a>, this commentary of mine is a bit like complaining about how the barn door is wide open after the horse is already long gone.</p>
<p>Even still, it is important to understand why these latest elections are dramatic theater in its most pure form, and we cannot simply resort to blaming the traditional "money in politics" process. For a good portion of American history, and especially the last few decades, the interest of voters in preserving the system has been fundamentally aligned with those of the large corporations and the politicians. The short-term benefits of kicking the can down the road for one, two... ten more years has completely over-shadowed any concern for longer-term equality and stability.</p>
<p>Now that many middle to upper-middle class Americans are in the process of exiting the markets and deleveraging, it is the wealthiest segements of society, including the politicians, who are left fully exposed to the negative monetary consequences of holding Wall Street accountable and implementing systemic reforms. That is why the Dodd-Frank Act did nothing to downsize the "too big to fail" banks or regulate derivatives, why the housing market is almost 100% backstopped by taxpayers and why the banks are given a free pass for fraudulent foreclosures, among many other things. It is why the only "change we can believe in" will force its way through the system from the bottom-up, rather than the top-down.</p><p><a href="http://www.businessinsider.com/why-money-in-politics-is-a-bigger-problem-than-ever-before-2012-4#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/11-richest-super-pac-donors-bankrolling-republican-race-2012-3Meet The 11 Super Rich Donors Who Are Bankrolling The GOP Racehttp://www.businessinsider.com/11-richest-super-pac-donors-bankrolling-republican-race-2012-3
Fri, 02 Mar 2012 11:33:00 -0500Grace Wyler
<p><img style="float:right;" src="http://static6.businessinsider.com/image/4f45743b69bedd710300001a/sheldon-adelson-foster-friess-peter-thiel-superpac.jpg" border="0" alt="sheldon adelson foster friess peter thiel superpac" /></p><p>Behind every 2012 presidential candidate, there is a millionaire or billionaire holding the purse strings to the campaign's war chest.</p>
<p>Relaxation of campaign finance laws has given rise to a new class of super-donors who are now acting as kingmakers in this year's presidential election.&nbsp;</p>
<p>It's an elite club that includes Wall&nbsp;<span>Street titans, Texas oil tycoons, billionaire tech execs, and an outspoken evangelical mutual fund manager, all of&nbsp;</span>whom have given $1 million or more to support Republican SuperPACs. <a href="http://www.washingtonpost.com/politics/super-pac-donors-revealed-who-are-the-power-players-in-the-gop-primary/2012/02/21/gIQAPU3BSR_story.html">According to the Washington Post,</a> these sugar daddies have forked over a combined $54 million so far this election cycle, helping bankroll an onslaught of negative attacks that have made this year's Republican primary one of bloodiest in recent memory.</p>
<p>Needless to say, these emergent power players now wield an outsized influence over presidential politics. Their ability to tap into vast fortunes &mdash; and their willingness to do it over and over again &mdash; is reshaping campaign finance, and helping to decide who stays and who goes in the 2012 race.</p>
<p>We've combed through federal finance reports and <a href="http://news.yahoo.com/every-presidential-hopeful-1-million-donor-075714763.html">this AP analysis</a> to find the biggest &mdash; and most interesting &mdash; benefactors for each of the candidates. &nbsp;</p><h3>Harold Simmons, $14 million (and counting)</h3>
<img src="http://static5.businessinsider.com/image/4f4ff68b6bb3f7d90800005d-400-300/harold-simmons-14-million-and-counting.jpg" alt="" />
<p><p><strong>Who He Is:</strong>&nbsp;A billionaire corporate raider who has been described as "<a href="http://www.dmagazine.com/Home/D_Magazine/2010/February/Harold_Simmons_Is_Dallas_Most_Evil_Genius.aspx">Dallas' most evil genius</a>." Simmons is worth about $9.3 billion, making&nbsp;him the 33rd richest person in America,&nbsp;<a href="http://www.forbes.com/profile/harold-simmons/">according to Forbes.</a></p>
<p><strong>Who He Supports:</strong> <em>Almost everyone.</em>&nbsp;Simmons is on a SuperPAC spending spree, although the bulk of his money ($12 million) has gone to <strong>Karl Rove</strong>'s&nbsp;<strong>American Crossroads&nbsp;</strong>SuperPAC. A longtime <strong>Rick Perry</strong> pal,&nbsp;Simmons also donated $1.1 million to SuperPACs supporting the Texas Governor's presidential campaign. Since Perry dropped out, Simmons has donated $1 million to <strong>Newt Gingrich</strong> and $100,000 to <strong>Mitt Romney.</strong>&nbsp;</p>
<p><strong>Why:</strong> Simmons' SuperPAC love is not surprising. The Texas donor has long supported shadow campaign groups, including the Swift Boat Veterans For Truth and the group behind the 2008 ads tying Barack Obama to the Weather Underground.&nbsp;<span>He was also an early supporter of GOPAC, the political action committee Gingrich founded while he was Speaker of the House.&nbsp;</span></p></p>
<br/><br/><h3>Sheldon Adelson, $11 million+</h3>
<img src="http://static4.businessinsider.com/image/4f4ea6a66bb3f7d03b000049-400-300/sheldon-adelson-11-million.jpg" alt="" />
<p><p><strong>Who They Are:</strong>&nbsp;Adelson is chairman and CEO of Las Vegas Sands Corps. The casino/hotel magnate is reportedly worth $21.5 billion, making him the 8th wealthiest American and 16th wealthiest person in the world, <a href="http://www.forbes.com/profile/sheldon-adelson/">according to Forbes.</a></p>
<p><strong>Who He Supports: </strong><em>Newt Gingrich.</em> The Adelson family's staggering donation to the pro-Gingrich <a href="http://www.winningourfuture.com/">Winning Our Future</a> SuperPAC has kept Gingrich's struggling campaign afloat, and made the casino magnate a household name. The couple reportedly made another "significant contribution" to the group this week to help finance Gingrich's Super Tuesday comeback. &nbsp;</p>
<p><strong>Why:</strong>&nbsp;Adelson and Gingrich have a longstanding political friendship, based on their hawkish defense of Israel. But Adelson has said that he plans to support whichever candidate wins the Republican nomination.</p>
<p style="padding-left: 30px;"><em>&ldquo;I&rsquo;m against very wealthy &shy;people attempting to, or influencing elections,&rdquo; <a href="http://www.forbes.com/sites/stevenbertoni/2012/02/21/billionaire-sheldon-adelson-says-he-might-give-100m-to-newt-gingrich-or-other-republican/">Adelson told Forbes recently</a>. &ldquo;But as long as it&rsquo;s doable I&rsquo;m going to do it. Because I know that guys like [George] Soros&nbsp;have been doing it for years, if not decades."</em></p></p>
<br/><br/><h3>Peter Thiel, $2.6 million </h3>
<img src="http://static4.businessinsider.com/image/4ce18f31cadcbb0d470d0000-400-300/peter-thiel-26-million.jpg" alt="" />
<p><p><strong>Who He Is:</strong>&nbsp;A Silicon Valley venture capitalist and former chess master best known for co-founding PayPal and for being an early investor in Facebook.</p>
<p><strong>Who He Supports:</strong> <em>Ron Paul. </em>Thiel is responsible for about 75 percent of the funding for <a href="http://www.endorseliberty.com/">Endorse Liberty</a>, a pro-Paul SuperPAC that makes YouTube documentaries explaining Paul's political philosophy.&nbsp;</p>
<p><strong>Why:</strong>&nbsp;Although they have reportedly never met, Thiel and Paul are actually a perfect donor-candidate match. An openly gay and Christian libertarian, Thiel is a staunch free-market capitalist <span>who founded PayPal to&nbsp;</span><a href="http://www.thedailybeast.com/newsweek/2010/10/18/what-s-wrong-with-silicon-valley-libertarianism.html">create a global currency</a><span>&nbsp;</span><span>beyond the reach of central banks. In addition to supporting Paul, Thiel has donated to several other unorthodox political causes,&nbsp;</span>including a <a href="http://www.seasteading.org/">"seasteading"</a> foundation to create experimental libertarian islands off the California coast.&nbsp;</p></p>
<br/><br/><a href="http://www.businessinsider.com/11-richest-super-pac-donors-bankrolling-republican-race-2012-3#julian-robertson-13-million-4">See the rest of the story at Business Insider</a> http://www.businessinsider.com/mitt-romney-super-pac-recycled-missing-teen-ad-2008-2012-2WATCHDOG: That Recycled Romney SuperPAC Might Be Illegalhttp://www.businessinsider.com/mitt-romney-super-pac-recycled-missing-teen-ad-2008-2012-2
Fri, 24 Feb 2012 18:12:00 -0500Jordan Teicher and Jaywon Choe
<p>The latest ad from the pro-Mitt Romney SuperPAC Restore Our Future looks very familiar.</p>
<p>The ad, which tells the story of how <a href="http://www.businessinsider.com/blackboard/mitt-romney" class="hidden_link">Mitt Romney</a> helped find the kidnapped daughter of a Bain colleague, is nearly identical to a spot used by Romney's 2008 presidential campaign. is actually an ad that the Romney campaign used in 2007. Back then it was called "<a href="http://youtu.be/hS1DvuLE2is">The Search</a>." Now it's called <a href="http://www.youtube.com/watch?feature=player_embedded&amp;v=j5WI1FrUNzA">"Saved."</a></p>
<p>Some of the photos of Romney appear to have been updated, but otherwise the ads are exactly the same. (Except for the last shot, of course.)</p>
<p>The video features an interview with Robert Gay, a former <a href="http://www.businessinsider.com/blackboard/bain-capital" class="hidden_link">Bain Capital</a> employee, who describes how Romney set up a command center to search for his 14-year-old daughter after she went missing in New York City. She was eventually found.</p>
<p>Newsmax's Ronald Kessler reports that this story is&nbsp;<a href="http://w3.newsmax.com/romney/">true</a>. Politifact.com&nbsp;<a href="http://www.politifact.com/truth-o-meter/statements/2012/jan/30/chain-email/viral-internet-story-says-mitt-romney-helped-locat/">confirms it</a>.&nbsp;</p>
<p>The dramatic ad is an indication that Romney and his supporters are desperate to create the impression that the candidate is a compassionate, caring human being &mdash; even if they have to recycle the message.&nbsp;</p>
<p><strong>UPDATE:</strong></p>
<p>Campaign finance watchdog groups are now saying that Restore Our Future is violating FEC laws that prohibit SuperPACS from republishing candidate materials, <a href="http://www.politico.com/blogs/burns-haberman/2012/02/watchdog-groups-say-recycled-romney-ad-violates-campaign-115471.html">Politico reports.</a>&nbsp;</p>
<p>But Restore Our Future says it acted within campaign finance regulations.&nbsp;</p>
<p>&ldquo;We purchased the rights to the footage from it&rsquo;s [sic] owner, Cold Harbor films, which did not entail interacting with the Romney campaign," the group said in a statement&nbsp;to the&nbsp;<a href="http://mobile.nationaljournal.com/2012-presidential-campaign/pro-romney-super-pac-says-ad-is-legal-20120223"><em>National Journal</em></a><span>.&nbsp;</span></p>
<p><span></span>A spokeswoman from the FEC told <a class="hidden_link" href="http://www.businessinsider.com/blackboard/business-insider">Business Insider</a> that they could not comment on the legality of the ad until after a formal investigation is held. An investigation will be held if a formal complaint is filed.</p>
<p>Watch the SuperPAC ad below.</p>
<p><iframe width="560" height="315" frameborder="0" src="http://www.youtube.com/embed/j5WI1FrUNzA"></iframe></p><p><a href="http://www.businessinsider.com/mitt-romney-super-pac-recycled-missing-teen-ad-2008-2012-2#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/nancy-pelosi-stephen-colbert-super-pacs2012-2NANCY PELOSI TO COLBERT: SuperPACs Are The First Step Toward Plutocracyhttp://www.businessinsider.com/nancy-pelosi-stephen-colbert-super-pacs2012-2
Thu, 23 Feb 2012 14:34:26 -0500Jordan Teicher
<p>Speaker <a class="hidden_link" href="http://www.businessinsider.com/blackboard/nancy-pelosi">Nancy Pelosi</a> had promised that she would never appear on The Colbert Report. But she broke that promise last night.&nbsp;</p>
<p>"This is part of my Lenten resolution, to do good works, to be kind to Republicans, so here I am," she told Colbert.</p>
<p>The topic of discussion: SuperPACs. Colbert (in character) loves them. Pelosi hates them. &nbsp;</p>
<p>Really, Colbert is one of the most public critics of super PACs.&nbsp;</p>
<p>"Well I think that if we want to cancel elections and just have the wealthiest people in America, and you know what their names are, give millions and tens of millions of dollars we can just ask them, who do they want to be president? Who do they want to run Congress? Who do they want to be Governor?" Pelosi said.</p>
<p>"That would be polite," Colbert quipped.</p>
<p>"No, that would be a plutocracy, and we are a democracy. And the founders intended that the people would decide," Pelosi said.</p>
<p>Earlier this month, Pelosi <a href="http://www.businessinsider.com/pelosi-stephen-colbert-must-be-stopped-2012-2">attacked</a> Colbert and his super PAC in a facetious web ad. The purpose was to promote the Disclose Act, which aims to increase transparency in campaign donations.</p>
<p>While on the show, Pelosi managed to convince Colbert to support the bill.</p>
<p>Watch the clip below:&nbsp;</p>
<div style="background-color: #000000; width: 520px;">
<div style="padding: 4px;"><iframe width="512" height="288" frameborder="0" src="http://media.mtvnservices.com/embed/mgid:cms:item:comedycentral.com:408983"></iframe>
<p style="text-align: left; background-color: #ffffff; padding: 4px; margin-top: 4px; margin-bottom: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 12px;"><strong><a href="http://www.colbertnation.com/the-colbert-report-videos/408983/february-22-2012/nancy-pelosi">The Colbert Report</a></strong><br />Get More: <a href="http://www.colbertnation.com/full-episodes/">Colbert Report Full Episodes</a>,<a href="http://www.indecisionforever.com/">Political Humor &amp; Satire Blog</a>,<a href="http://www.colbertnation.com/video">Video Archive</a></p>
</div>
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